In January, oil reserves of the OECD countries decreased by 22.1 million barrels, to 2.621 billion barrels, which is the lowest level since April 2014 and 335.6 million barrels lower than the five-year average, according to the March report of the International Energy Agency (IEA), APA-Economics reports.
At this level, stocks covered the oil needs of OECD countries for nearly 58 days. Preliminary data for February show stocks fell by another 29.8 million barrels.